By Justin Mays:
Investing in property is one of the most common ways for investors to protect their wealth and, in a way, fight back against inflation. Passive income is another reason many opt to invest in real estate. Though, in today’s modern age, investors no longer need to limit themselves to their own countries when buying properties for investment. In fact, it has become quite common for people to go beyond the border, explore different countries, and understand the dynamics of different real estate markets for property investment.
Several countries around the globe have created citizenship-by-property investment schemes to entice foreign buyers to purchase local properties so they can get foreign investment. In this blog, Prime Property Turkey explains citizenship by property investment and which countries offer this program. Let’s dive in!
Citizenship by Property Investment
The citizenship by property investment program involves countries offering citizenship in exchange for property investment. There is a set minimum amount for the investment, and any amount less than that cannot qualify an individual for citizenship. This program offers a chance to fast-track the citizenship process and passport acquisition.
Some countries have similar programs, which include offering international investors residence permits in exchange for making a real estate investment. Ultimately, these programs' main benefit is that they expedite the citizenship or residence permit acquiring process. In addition, applicants can get citizenship without even knowing the local language.
Foreign buyers make real estate investments abroad for numerous reasons, whether to start a new life in another country, improve their real estate portfolio, acquire financial security, have a holiday home to enjoy, or obtain rental income.
Countries That Offer Citizenship by Property Investment
Spain, Turkey, Portugal and Malta have the most sought-after citizenship by investment programs. Every country’s citizenship by property investment program has different requirements and features different pros and cons. Affluent people from countries such as China, the Middle East, Russia, Pakistan, etc., show great interest in such programs.
By acquiring alternative citizenship, investors can reap the benefits of traveling and living in that country and gain access to that market for extensive business opportunities.
- Spain offers a citizenship-by-investment program, which requires an investment of a minimum of €500,000 in real estate and 10 years of continuous living in the country.
- Portugal requires a minimum of €280,000 of property investment and 6 years of constant living for investors to acquire citizenship.
- Malta provides citizenship via real estate investment which requires the purchase of a property with a minimum value of at least €700,000. Furthermore, the investor has to hold this property for at least 5 years.
- Greece requires a minimum investment of €250,000 on property and 7 years of continuous living to qualify for Greek citizenship.
Turkey Citizenship by Property Investment
According to the Turkish Citizenship by Investment Program, the applicant must invest a minimum of USD 400,000 in Turkish real estate to apply for Turkish citizenship and a passport. Furthermore, the applicant must hold this property for at least 3 years.
You can also browse this investment guide on the invest.gov.tr website to get more details on acquiring property in Turkey.
Investing in Turkish real estate grants you full ownership of your property and allows you to obtain rental income.
Furthermore, Turkey also offers residence permits in exchange for a real estate investment of 75000 USD.
Why invest in Turkish property?
Properties in Turkey are made of top-of-the-line materials and some of the most competitively priced. Buyers have many options, from luxury real estate to affordable commercial properties. In addition, the Turkish property portfolio is incredibly dynamic, so investors have a lot to choose from.
What is the processing time for acquiring Turkish citizenship?
The processing time for the citizenship application is anywhere from 3 to 6 months.
We Can Help You!
Prime Property Turkey has expanded its services to assist its clientele in their search for high-value Turkish properties and help them apply for Turkish citizenship once the purchase is made.
Our team handles everything from start to finish. So don’t wait any longer and get your free consultation now.
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